Leading Australia based online trading provider Pepperstone has announced that it has hired Andrew Turnbull as Head of Africa, strengthening its focus on one of the world’s fastest-evolving online trading regions. Based in Nairobi, Turnbull will lead Pepperstone’s strategy across the continent as traders increasingly turn to mobile-first platforms and regulators move to strengthen oversight of the sector.

The hiring marks a return to the FX and CFDs industry for Andrew Turnbull, who spent nearly 20 years in senior roles in the UK with ODL Securities and FXCM, where he led institutional sales and partnerships, before departing FXCM in 2013 to found alternative property finance company Wellesley Group Investors.

The appointment also comes as Pepperstone invests in owning more of its technology, giving the business greater control over the trading experience and allowing it to respond more closely to the different needs of clients across individual markets.

Marc Boever, Head of EMEA at Pepperstone said,

“Africa is dozens of distinct regulatory environments and trader profiles. That is why we are putting more resources on the ground and investing in people who understand the region. Andrew’s experience across regulated financial services and institutional partnerships, combined with his growing first-hand understanding of markets like Kenya, makes him the right person to lead our growth across the continent.”

Kenya, where Pepperstone is licensed under the Capital Markets Authority (CMA), was one of the first African countries to introduce a formal regulatory framework for online forex trading. That early move has helped create a more mature market, with regulated, licensed brokers increasingly trusted by traders, while Kenya’s experience offers a model for other African regulators looking to bring greater oversight to the sector.

“Kenya’s traders were among the first in Africa to get a properly regulated market to trade in, and that head start shows,” said Andrew Turnbull, Head of Africa at Pepperstone. “There is a growing appetite for online trading across the continent, but every market is different. I’m looking forward to building on Pepperstone’s presence here and working with our teams and partners to better understand and serve the different trading communities across Africa.”